 So it is only right that we have a green day on St. Patrick's Day. So apparently all the bears have been getting drunk at the Irish pub because Bitcoin has been on a tear this week up over 10%. The money printing press aka the Fed raised the interest rates this week but the markets did not mind at all as everything rallied ever since the announcement on Wednesday. Now today we are watching some very very key levels here as we go into the weekend. If Bitcoin breaks this very big key level that we're going to talk about in this video today here then you guys need to be buyers here because I strongly believe that if we get above this level we will be seeing a big continuation rally at that point. Not financial advice just my opinion. Then lastly of course as always I will be showing you guys the exact trade setups that I am going to be taking to make it rain in my bank account. Just kidding my money stays in crypto. Hey what's up Jay here and welcome back to Bitcoin Daily bringing you guys the best tips, tutorials and ideas to help you guys become profitable and successful investors. The goal of this channel is to empower you guys the community with the knowledge and resources to help you take your wealth up to that next level. So if you guys are new to the channel don't forget to smash that subscribe button turn on notifications and hit the like if you have any questions any comments drop it down below let's dive into today's video. So let's take a look back at the trade setups that I gave you guys on Monday's video and let's see how we did. So the first trade setup that we spoke about was a long position above $40,000. If you guys played that level you can see that a long position from $40,000 right now would be up around 4.3% if you use 10x leverage like we usually recommend that's 43% profit on that trade. So here's our exact result as we entered right above $40,000 and we were able to write it out all the way above $41,000 making a profit of over $3,200. Now we did take profits there and use the exact same entries again you can see using that $40,000 entry made another $500 in profit here again use that $40,000 entry once again made another $500 in profit and that was all basically on the 16th which was Wednesday we had that volatility and we took advantage of that volatility to make as much money as possible. If you missed that trade do not worry we have some more trade setups for this weekend for you guys so stay tuned for that. So diving into the analysis you can see here on the Monday we opened up with a 5% candle and then leading up to Wednesday's announcement you can see on Tuesday we had a pullback all the way to $38,000 remember we told you guys $38,000 was also a level we were interested in playing unfortunately we were not able to catch that trade if you guys did then you would have made lots of profits there. Now the interesting thing on Tuesday was that it closed in a hammer so this is considered a hammer candle the way you play the hammer candles is that you want to see this next candle here break above the previous candle here the cool thing here that not only did it break above that candle but it also broke out from this resistance that we had here remember that we spoke about that resistance area so that was basically a double breakout there remember we were rejected here rejected here and then finally got the breakout here of course on Wednesday we had a lot of volatility with a high of $41,763 and a low of $38,794 so that's a difference of about $3,000 in a 24-hour period hopefully you guys did not get chopped up in that price action basically what we did is we played that $40,000 area every time that it dropped below it we just waited for it bounce back to the upside and we're taking profits aggressively so yesterday not much really happened the market was actually pretty slow ethereum did have some movement yesterday which we also took advantage of you can see that ethereum had a nice one and a half percent move up yesterday and then continued today with another 4.3 percent move to the upside if you're wondering why is because remember we just broke above this level here that was a previous resistance and a Fibonacci level so now with this breakout in ethereum we could potentially see ethereum continue up to at least around $3,200 which is where the next resistance will be after of course the main big psychological number $3,000 so those are some levels to watch for ethereum over the weekend now coming back to bitcoin with this break to the upside you can see today we've had about a 2% move up and i'm expecting a continuation up until we retest this level right here remember we've been rejected multiple times over at this level and again here so this right here is the key level that we are watching here folks remember that we've been trading in this range in bitcoin where we've been bouncing off this bottom hitting this top going back to the bottom bouncing again boom hitting the top we went back to the bottom bounced again so i mean keep it simple guys what do you think is going to happen next we're going to test this top there's no need to over complicate trading so x is going to mark the spot here this is the level that everyone needs to be watching in the market right now now yes 42,000 is an important level because it has been a previous resistance and support however the most immediate threat right now is that 45,000 level which is also a Fibonacci level we've been now rejected from this spot four times in a row so if we get rejected again then we could begin to plan for some short entries to try to ride the trend back down to the bottom here but if we get a breakout here then we need to look back at what happened the last time that we broke out and above this level which was back in august of 2021 and you can see once we broke out we rolled this all the way to the top the very next Fibonacci level which was all the way up around that 52 to 54,000 area then we got a big rejection that actually sent us right back to this Fibonacci level and we got a bounce that took us all the way back up to set a new all-time high last time at of course 69,000 dollars so does that mean that a break above this level guarantees a move all the way up to 69,000 and beyond maybe for a new all-time high no it doesn't mean that but it is a step in the right direction a break above this level here i'm expecting a rally over the next few weeks or maybe even less back up to 50 to 54,000 dollars and i'm sure that that's a rally that you will want to be a part of so if i see a break above this level here that will be an overall break in the trend and i would expect a new trend to form back to the upside with a target of at least 50,000 dollars and possibly targeting the previous all-time highs now next i'm going to be showing you guys the exact trade setups that i will be watching and i will be taking over this weekend depending on what happens with the price action but however before i show you guys this all i asked for is that you guys subscribe to the channel if you guys are looking to make money either through trading or crypto passive income maybe a little bit of nfts or maybe you just want to stay up to date with the latest money making trends in crypto i literally upload a video every single day about these topics so please smash that subscribe button so that you never miss another opportunity to make money in crypto again in addition to that i answer every single dm that i get on instagram and i also answer every single comment that you guys leave on my youtube channel so please if you have any questions drop it in the comments below all right guys as always we're looking to make things as simple as possible these are the trade setups that we're watching this weekend so the level that we're going to be playing is yet another key level look what happened here does this look familiar if you go further back look at this and look what happens here when we went above this level right look what happened here when we dropped below this level and again and again so that right there should tell you the entire story we're going to play that key level what level is that that is of course forty two thousand dollars why is it a key level well that used to actually be a previous all-time high that's how it became a key level so now that level has been used multiple times over as a support and resistance area and if you pull up the volume shelf here you can see that above this level if we break above it there's a big drop off in interest until we get back up to these levels up here which is exactly where we've been rejected multiple times over and it's the major key level that we're going to be watching so there's two ways you can play this you can either play it to the upside or to the short side as you can see there's been fake outs before and you could make money if the price drops it gets rejected at forty two and drops back down right so you could definitely take a short entry if you see prices go up and you see it drop right back down but i'm mainly looking to take a long position above on a break above forty two i think that could quickly lead up to this key level up here but if i see that it could be a fake out if i see that there's a lot of selling pressure pushing the price back down below forty two i could switch my trade from a long position into a short position so that's going to depend in the moment what i see in the price action this does take a little bit more experience so if you're new to trading you might just want to play one of the levels i would probably say the breakout level you would rather play leave the shorts for another time when it's more likely for a short position to happen so now if we do break above forty two and you see a rally up to this level over the weekend now that level is going to be the same thing is here you can either use a breakout entry there and a breakout entry i'd probably be playing it above forty five thousand or you can use that as a short entry as well as you guys have seen the last four times we've tested that area we've been rejected massively so maybe if you see the price go up above forty five and then you see it drop back down this Fibonacci level and if we lose maybe forty four thousand then i would probably have my short entries below forty forty four thousand so basically a breakdown below forty four thousand at that point now i know i've given you guys two different entries in two different directions a lot of this is based on experience you have to be able to read price action quickly and you have to be able to make really quick decisions now if you guys want to know exactly what trades i'm taking what decisions i'm making in real time then you must join my trading mentorship program in this group i share every single trade that i take with my complete trading plan entry stop loss take profit all of it i teach you guys how to trade using leverage to maximize your capital i teach you how to use the correct position sizing and risk levels for your capital so you guys never have to worry about blowing up your account again in addition to that i also post passive income opportunities i post nft projects play to earn opportunities and much much more now there are limited spots for this group because there's so many people that are trying to get in but there's only so much time and so many people that i can work with at one time so if you guys are interested make sure to click the link in the description below i'm telling you guys crypto is a once in a generation opportunity to change your life i went from a broke failed artist to a regular nine to five working job to retiring in 2017 because of crypto it changed my life and i know it can change yours as well but these opportunities will not last forever so please if you're interested in joining the trading mentorship group sign up in the link in the description below if not then i strongly suggest that you check out the next two videos that come up on the screen because those are the videos that youtube thinks that you should watch next thank you so much for watching guys i will catch you on the next one as always peace and love